Amid global headwinds, Piyush Goyal holds meeting with precious metals sector to review stability measures
New Delhi, May 21
Union Commerce and Industry Minister Piyush Goyal on Thursday chaired a meeting with stakeholders from the precious metals sector to review challenges arising from prevailing global headwinds and to discuss steps aimed at strengthening industry resilience and operational stability.
According to a post shared by the Minister's Office on X, the meeting focused on the impact of global uncertainties on the sector and possible policy and operational measures to support stability in the industry.
The post said, "They held discussions on the prevailing global headwinds impacting the industry and deliberated on measures to further strengthen sectoral resilience & operational stability."
It further stated, "Minister reaffirmed the Modi Government's commitment to working closely with the industry to facilitate effective & timely resolution of concerns."
The meeting focused on addressing industry concerns arising from global challenges and ensuring smoother functioning of the sector through continued government-industry engagement.Separately, Piyush Goyal on Wednesday also reviewed the Action Plan for the Export Promotion Mission (EPM) and the Brand India Framework, aimed at strengthening India's global trade presence and improving the competitiveness of Indian enterprises.
In a separate post on X, the Minister said, "Held a constructive meeting to review the Action Plan for the Export Promotion Mission (EPM) and the Brand India Framework."
He added that discussions focused on "strategic measures to strengthen India's global brand identity, enhance the competitiveness of Indian enterprises, and further promote Indian products & services across international markets."
The Export Promotion Mission, announced in the Union Budget 2025-26, is part of the government's broader effort to boost exports, support exporters, and improve India's share in global trade through logistics upgrades, trade facilitation and market expansion initiatives.
— ANI
Reader Comments
Hope the meeting also addresses the issue of hallmarking compliance costs for small businesses. We need measures that help everyone, not just big players in the sector.
The Export Promotion Mission is a great initiative. Indian brands have huge potential in global markets, especially in handcrafted jewellery and textiles. Hope the Brand India Framework gives them the visibility they deserve. 🇮🇳
True, global uncertainties affect us all. But I hope the government also looks at reducing import duties on gold to curb smuggling. That would help the entire sector operate more transparently and competitively.
As an investor watching the gold market, this is reassuring. India is a key player in precious metals, and government support for stability is crucial given the current global trade tensions and inflation concerns.
Good to see proactive steps for export promotion. But I hope there is also attention on reducing bureaucratic hurdles for exporters. We need faster clearances and simpler processes to really compete globally.
Finally, some concrete steps for the precious metals sector! My family runs a small jewellery business, and the volatility in gold rates has been a nightmare. Let's hope the operational stability measures bring some relief. Fingers crossed! 🤞
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